#美国10年期美债收益率创2023年11月新高
🚨 US Treasury yields surge to the highest level since 2023! The Ministry of Finance moves urgently to “put out the fire,” but the market responds with a plunge! 🚨
On September 9, U.S. Eastern Time, the U.S. Department of the Treasury announced that on September 10 it would repurchase up to $6 billion in long-term Treasury securities. The targets are aging bonds with maturities of 10 to 20 years, with settlement set for September 11.
This is the first operation after Treasury Secretary Bessent, on August 19, raised the single-repurchase cap from $2 billion to “at least $4 billion”—going straight to $6 billion, triple the original plan!
But the market is simply not buying it.
After the repurchase news was released, long-term U.S. Treasury yields continued to climb— the 10-year Treasury yield rose above 4.85%, the highest since November 2023; the 30-year yield broke above 5.30%, edging close to the peak seen in the past two decades. Wall Street made its point with a selloff, telling the Treasury: “$600 million—too little.”
A strategist at BNP Paribas said that only $7 billion would surprise the market; any smaller amount would trigger further selling. Brown Brothers Harriman put it even more bluntly: “The Treasury is coming to a tank battle with a pea-shooter.”
Why doesn’t the market accept it?
The total size of U.S. Treasuries has exceeded $32 trillion, and the outstanding 20–30 year bucket is about $5.5 trillion. A $600 million repurchase is an almost negligible share. A strategist at Deutsche Bank summed it up: “The Treasury created a monster, and now it has to keep feeding it.”
An even bigger storm is brewing—
Brent crude oil has again broken above $100; the Iran–U.S. conflict continues to escalate; the probability of a rate hike in September has jumped to 59.4%; and corporate bond issuance is at a seasonal peak, further draining market liquidity.
The Treasury is “putting out fires,” while the market is “pouring on fuel.” The deciding factor in this standoff will be the Federal Reserve’s rate decision meeting on September 15. 🐾
$CL
$BZ
#布伦特原油突破100美元 #美财政部拟回购最多60亿美元国债
🚨 US Treasury yields surge to the highest level since 2023! The Ministry of Finance moves urgently to “put out the fire,” but the market responds with a plunge! 🚨
On September 9, U.S. Eastern Time, the U.S. Department of the Treasury announced that on September 10 it would repurchase up to $6 billion in long-term Treasury securities. The targets are aging bonds with maturities of 10 to 20 years, with settlement set for September 11.
This is the first operation after Treasury Secretary Bessent, on August 19, raised the single-repurchase cap from $2 billion to “at least $4 billion”—going straight to $6 billion, triple the original plan!
But the market is simply not buying it.
After the repurchase news was released, long-term U.S. Treasury yields continued to climb— the 10-year Treasury yield rose above 4.85%, the highest since November 2023; the 30-year yield broke above 5.30%, edging close to the peak seen in the past two decades. Wall Street made its point with a selloff, telling the Treasury: “$600 million—too little.”
A strategist at BNP Paribas said that only $7 billion would surprise the market; any smaller amount would trigger further selling. Brown Brothers Harriman put it even more bluntly: “The Treasury is coming to a tank battle with a pea-shooter.”
Why doesn’t the market accept it?
The total size of U.S. Treasuries has exceeded $32 trillion, and the outstanding 20–30 year bucket is about $5.5 trillion. A $600 million repurchase is an almost negligible share. A strategist at Deutsche Bank summed it up: “The Treasury created a monster, and now it has to keep feeding it.”
An even bigger storm is brewing—
Brent crude oil has again broken above $100; the Iran–U.S. conflict continues to escalate; the probability of a rate hike in September has jumped to 59.4%; and corporate bond issuance is at a seasonal peak, further draining market liquidity.
The Treasury is “putting out fires,” while the market is “pouring on fuel.” The deciding factor in this standoff will be the Federal Reserve’s rate decision meeting on September 15. 🐾
$CL
$BZ
#布伦特原油突破100美元 #美财政部拟回购最多60亿美元国债